Management

What are the four major things you need to create a World-Wide Web?

1. A markup standard (HTML) 2. A transfer protocol 3. A server (that will post your web page) 4. A browser (Mosaic: first real web browser)

How have CRM systems evolved?

1. CRMs today aren't solely for sales teams. ... 2. CRMs today are team-focused. ... 3. CRMs today aren't just "information dumps." ... 4. CRMs today are essential to boosting productivity. ... 5. CRMs today are easier on the eyes. ... 6. CRMs today are mobile-friendly. ... 7. CRMs today are more accessible and intuitive than ever.

Pre-covid, the World Economic Forum estimated that a 10 percent increase in broadband is associated with a ___ percent increase in GDP growth.

0.6-2.8 percent

What are the communications characteristics of Email/letters?

Asynchronous sender/receiver don't have to be available at same time No acknowledgement Cheap Can be copied and forwarded Beware: record retention and sunshine laws may apply

What are the negatives of this type of system?

Automatic ordering can cause problems within the supply chain.

Baseline vs Benchmark

Baseline: use to compare your results to yourself at different points in time Benchmark: use to compare yourself to competitors/ industry standard

Why is shrinkage important?

Because you want it to be as low as possible to successfully run your business

What is Paralanguage?

Components of meta-communication that may modify or nuance meaning, or convey emotion, such as prosody, pitch, volume, intonation, etc. it is sometimes defined as relation to non phonemic properties only. May be expressed consciously or unconsciously.

What are the advantages of a CMS?

Content can be formatted by a template and displayed in a variety of ways Scales to 1000 or 100,000 pages and users Multiple authors can contribute to the site Increased security Increased flexibility Content is easily searchable

What should you not put in an email or electronic communications?

1. Personal information like social security numbers, credit card numbers, or other sensitive data. 2. Confidential or proprietary information without proper authorization. 3. Offensive, discriminatory, or inappropriate language, images, or jokes. 4. False or misleading information about your identity, qualifications, or intentions. 5. Copyrighted material without proper authorization.

What is the Internet?

A worldwide network of interconnected networks The network which supports all types of communication

Is AI being incorporated into CRM systems?

AI (Artificial Intelligence) is increasingly being incorporated into CRM (Customer Relationship Management) systems to enhance their functionality and provide businesses with greater insights and capabilities for managing customer interactions and relationships

What is Typosquatting?

A form of cyber squatting that relies on mistakes such as typographical errors made by internet users when inputting information into a web browser Form of cybersquatting/DNS hacking, and possibly brand jacking, which relies on mistakes such as typos made by internet users when inputting a website address, they may be led to any URL

How is information organized in SalesForce and other CRMs?

Account: customers, partners Contact: people associated w accounts Opportunity: sales deals Case: customer issues Campaign: marketing projects Lead: prospective customers

What platform would I use if I wanted to make money by having ads on my YouTube or my website?

AdSense

What are the advantages and disadvantages of Coaxial for networking?

Advantages: carry a lot of information, good for broadcasts Disadvantages: hard to install, more expensive, shared medium

What are the advantages and disadvantages of Twisted Pair for networking?

Advantages: cheap, you can make this (but takes time), easy to install Disadvantages: insecure, cross-caulk, distance limitation (300ft)

What are the advantages and disadvantages of Wifi for networking?

Advantages: convenient, easy to set up Disadvantages: shared medium, insecure, security users are careless

What are the advantages and disadvantages of Fiber Optic for networking?

Advantages: very fast "future proof" Disadvantages: expensive, difficult to install

Churn

Aka turnover Common KPI (key performance indicator) Churn= #customers lost in period/ # of total customers at beginning of period Customer life value(CLV)= revenue per customer/churn rate *measure in same time period As a company grows it is harder to find new customers to replace those who have churned An unyielding force Voluntary- customer takes action to cancel Involuntary- customer fails to take action to renew Happy- your product/service worked and customer no longer needs because there problem is solved

What are the common causes of shrinkage?

Malicious: external theft, internal theft, inter-company fraud(opportuinty) Non Malicious: spoilage, damage, data errors, pricing errors, delivery errors, scanning errors

6 Ds

Digitalization, Deception, Disruptive, Demonetization, Dematerialization, Democratization.

Making Money on the Internet Part II

E-commerce Brand awareness Subscriptions

What tool will let me see the trending topics on google?

Google Trends

What free site will allow you to get deep insights about the visitors to your website including origin, behavior, etc.

Google analytics

What are some of the examples of the negatives of our global supply chain?

Illegal trade: wildlife trade, counterfeit goods, human trafficking, ghost shifts

What is presence information?

In computer and telecommunications networks, presence information is a status indicator that conveys the ability and willingness of a potential communication partner—for example a user—to communicate.

Who "invented" the WWW?

Tim Berners Lee inventor the world wide web (HTTP & HTML)

NPS

Net promoter score (NPS) is a widely used market research metric that is based on a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend or colleague. Measures customer experience- predictor of brand growth Detractors 0-6 Passives 7-8 Promoters 9-10 %promoters-%detractors= NPS

AI and Neural Networks

Neural network= AI on steroids Neural networks are computer systems that mimic the human brain, learning from data and finding patterns.

Have all the world's IP addresses been geolocated?

No, not all the world's IP addresses have been geolocated.

How do communication styles differ based on age?

Older people expect acknowledgement/ other differences

What is the definition of Unified Communication? What are some examples?

UC is the integration of real-time communication services such as instant messaging (chat), presence information, telephony (including IP telephony), video conferencing, data sharing (web connected electronic whiteboards aka IWB or interactive white boards), call control and speech recognition with non-real-time communication services such as unified messaging (integrated voicemail,email, SMS and text). Not a single product, but a set of products that provide a consistent unified user interface and user experience across multiple devices and media types.

What are the parts of a URL? http://shop.pixelfrau.com/category/product.html

URI scheme or protocol (http://) Subdomain (shop.) Domain name (pixelfrau) Top level domain [TLD) (.com) folder/path (/category) Page (/product) File extension (.html)

Define and list the characteristics of PANs, LANs, CANs, MANs, and WANs.

PANs- Personal area network (apple watch, headphone) LANs- Local area network (network within a building, fast, cheap) CANs- Campus area network (shared files, typically a network for a campus) MANs- Metropolitan area network (more efficient network, network within a city) WANs- Wide area network (slow, expensive, often used for corporate or enterprise WANs)

What was Walmart's supply chain innovation that helped them to grow so rapidly?

Walmart operates under one of the most technologically advanced, and efficient, supply chain management (SCM) systems in existence. It has pioneered ways to master distribution practices and manage inventory electronically so that it knows at all times what products are needed, how many products are needed, and when these products are needed.

How was this innovation enabled by technology and how did it work?

Walmart was one of the first retailers to adopt barcode scanning technology in the 1980s, which allowed the company to keep track of inventory and speed up the checkout process. This was a major advantage over other retailers who still relied on manual inventory systems. In addition to barcode scanning, Walmart implemented cross-docking, a system of delivering goods directly to stores without stopping at a warehouse. This allowed the company to reduce lead time, minimize inventory costs, and improve stock availability.

Adversarial AI

When people trying to trick AI and machine learning algorithms maliciously

How do writers make money on Medium.com or substack?

Partner Program writers are paid monthly based on how much time Medium members spend reading their stories. The longer members read, the more writers earn.

What is Patreon?

Patreon (/ˈpeɪtriɒn/, /-ən/) is a membership platform that provides business tools for content creators to run a subscription service. It helps creators and artists earn a monthly income by providing rewards and perks to their subscribers. Patreon charges a commission of 9 to 12 percent of creators' monthly income, in addition to payment processing fees.

What platform would I use if I wanted to advertise on google on youtube, or on any website that displays google ads?

adwords

What is A/B testing?

comparing two versions of a web page to see which one performs better A/B testing is a user experience research methodology. A/B tests consist of a randomized experiment that usually involves two variants, although the concept can be also extended to multiple variants of the same variable. It includes application of statistical hypothesis testing or "two-sample hypothesis testing" as used in the field of statistics. A/B testing is a way to compare multiple versions of a single variable, for example by testing a subject's response to variant A against variant B, and determining which of the variants is more effective.

What is CRM?

customer relationship management (CRM)-Systems used to support customer-related sales and marketing activities.

What is Disintermediation?

the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries. "cutting the middle man" Removing an organization from a firm's distribution channel. Disintermediation collapses the path between supplier and customer.

Our friends in computer science think of networks in terms of how many layers?

seven different abstraction layers: Physical, Data Link, Network, Transport, Session, Presentation, and Application.

Have you been a subject in an A/B test?

yes

What is a Content Management System?

Process and/or software application used by groups to plan, create, manage, store and distribute content. (bundle of software and scripts that let you build and serve a website up to the world)

In communications, Method Matches _______________ ?

Method Matches Audience

What are Monopoly Rents?

Monopoly rent refers to the situation in which a monopoly producer lacks competition and thus can sell its goods and services at a price far above what the otherwise competitive market price would be, at the expense of consumers.

What is Starlink?

Starlink is the world's first and largest satellite constellation using a low Earth orbit to deliver broadband internet capable of supporting streaming, online gaming, video calls and more.

Besides selling a product, how can you make money with Amazon?

Storefront

What are the communications characteristics of face-to-face communication?

Synchronous Cannot be copied, forwarded etc Visual Participants can gather meta-data about the communications Can establish a relationship faster Benefits later asynchronous communication effects

What does the DNS system do?

The Domain Name System (DNS) turns domain names into IP addresses, which browsers use to load internet pages. Every device connected to the internet has its own IP address, which is used by other devices to locate the device.

What is the organization responsible for coordinating the maintenance and procedures of several databases related to the namespaces of the Internet, ensuring the network's stable and secure operation?

The Internet Corporation for Assigned Names and Numbers maintains the 'coordinates' of the Internet, from IP address to web address.

What what the phenomenon that we saw with the Beer Game?

The bullwhip effect

Switching Costs

The cost a consumer incurs when moving from one product to another. It can involve actual money spent (e.g., buying a new product) as well as investments in time, any data loss, and so forth.

How much of the world's Internet intercontinental traffic is carried by undersea cables?

95% of world's internet goes through fiber optic cables through the sea

What service allows you to look up the owner of a domain name?

"Whols" service

What are the three main causes of the bullwhip effect?

1. Lack of information 2. Supply chain structure 3. Lack of collaboration Longer lead times= more aggravated BWE

How do effective and efficient SCM systems effect Porter's five forces.

1. Decrease buyer power 2. Increase supplier power 3. Increase switching costs to reduce threat of substitutes 4. Create entry barriers- decrease threat of new entrants 5. Increase efficiencies while seeking competitive advantage

What are the four ways to combat the bullwhip effect?

1. Disintermediation(cut out the middleman) 2. Information sharing 3. Break order batches 4. Don't allow for total automation in supply chain

Cloud Computing 5 effets on PORTER

1. Threat of new entrants- CC lowers barriers to entry for companies eliminates the need for companies to invest in expensive IT. 2. Bargaining Power of Suppliers- CC reduces (BPS) by eliminating the need for companies to purchase and maintain their own IT infrastructure 3. Bargaining Power of Customers- CC increases "BPC" because they have more options to choose from. Customers can switch providers easily for reasons such as, price, features, and quality of service. CC companies need to innovate and improve their services to retain customers. 4. Threat of Substitutes- CC has increased (TOS), easier for companies to adopt new tech and services. 5. Rivalry Among existing competitors- CC has increased the competition among competitors by reducing barriers to entry and CC has made it easier for companies to expand into new markets and offer new goods + services

How much does "inefficient" communication cost U.S. businesses?

297 billion

What is Cybersquatting?

Also known as domain squatting according to the US federal law known as the anticyber-squatting consumer protection act, is registering, trafficking in, or using an internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else.

What is a Ghost Shift?

Also known as the "midnight shift" or "third shift", contractors hired by the brands will essentially make more products than they're supposed to even after "official production" has finished, running the production machine off the books by having factory workers come back for an extra undocumented out of hours shift. Large source of counterfeit goods

Network vs Ecosystem

Ecosystem is a biological community of interacting organisms and their physical environment. A network is a group or system of interconnected people or things.

What is a distribution channel? What role does a distributor play in a distribution channel?

It's the path through which products or services get to customers. Distributor plays a vital role in ensuring that the right products reach the right customers at the right time, while also providing value-added services such as logistics, marketing, and customer support.

What are the steps in the Sales Cycle?

Prospecting: searching for new customers, the key is to distinguish between a lead, a prospect, and a qualified prospect. An important element in this step is to create a profile of existing customers Initiate contact: step where you begin to build a relationship. A good approach is Crucial as it will identify you as either a bothersome salesperson.Or a salesperson with something of value to offer. Identify needs: To be a highly effective salesperson, you have to sell to the prospects needs, so you first will have to understand what those needs are. This means you must think in terms of solving a prospect's problem. The only way to do that is by asking a lot of questions. Present offer: If you consider your product slash service in terms of how it benefits the customer, your presentation won't be a focused and relevant dialogue rather than a self aggrandizing monologue. Nothing is worse than a sales presentation which proceeds from a seller's perspective. Manage objections: Handle sales objections By addressing your prospects concerns about your product or service in order to create technical, organizational and personal buy-in. Closing: At this stage is about advancing the sales process to ultimately get an order.You must ultimately ask for the order, and no sales conversation should ever end without an agreement to some next steps. Do not be satisfied with "we'll get back to you." What could you say in response to such remarks in order to advance the sale?

Prof C argues that instead of trying to go "viral" you should make content that is what?

Quality

What did the quality score encourage people to do?

Quality Score is a metric designed to reflect the quality and relevance of your ads, keywords, and landing pages to the average user. You can use it to improve your targeting, create more relevant ads and landing pages, and, as a result, improve your ad rank without increasing your bids.

How is RFID used to reduce shrinkage and out of stock situations?

RFID (Radio Frequency Identification) technology is used in retail to reduce shrinkage and out of stock situations by providing real-time visibility into inventory levels and product movements.

What is RFM?

RFM is a method used for analyzing customer value and segmenting customers which is commonly used in database marketing and direct marketing

What is shrinkage?

Shrinkage is the portion of inventory that gets lost, stolen, damaged, or misplaced. Expressed as a percentage based on the value of lost inventory divided by sales during the same period. Keeping this rate low is important.

The Innovator's Dilemma

The notion that disruptive innovations can cause established firms or industries to lose market dominance, often leading to failure. Why big firms fail? Many once-large firms fail to make the transition as new technologies emerge to redefine markets.

Moore's law-hardware from textbook

The observation that, over the history of computing hardware, the number of transistors in a dense integrated circuit doubles approximately every two years

How did Walmart use RFID and where were the benefits to Walmart?

The primary way Walmart used RFID was to track inventory levels in real-time and improve supply chain efficiency. Benefits: inventory management, lowered labor costs, improved supply chain efficiency, decrease in theft

Thiel and Galloway

Theil's theory of "X and Y" X is an amount of value that gets created by technology Y is what % of X an individual uses

What can A/B Testing determine?

Which is most effective.

What is the most popular CMS?

WordPress

What is an example of a simple CMS and what are the advantages of it?

Wordpress (easy to use, customizable, search engine optimization friendly, cost effective)

How do you register a new domain name?

You have to use a domain name registrar. These are companies who are authorized to grant you the right to use the domain name. They also make sure that all the DNS servers know how to translate your domain to an IP address.

Cloud computing

the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer.